Strategists at TD Securities open a short position on the AUD/USD pair as they think the Aussie has become expensive with a shift in the US-Chine narrative emerging.
Key quotes
“We enter a short AUD/USD position (spot reference: 0.6480) with a target of 0.6175 and a stop-loss of 0.6680.”
“The rhetoric between the US and China has heated up, which puts the spotlight on the upcoming trade discussions and broader political dialogue. The resulting stress leaves AUD vulnerable to a setback.”
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